Ennis, Inc. -- $500 bonuses to 2,200 non-management employees
Keith S. Walters, Chairman, President and Chief Executive Officer of Ennis, Inc. (NYSE: EBF), a manufacturer of business forms and other business
products headquartered in Midlothian, Texas, announced today that in conjunction with the signing of the Tax Cuts and Jobs Act of 2017, the Ennis
Board of Directors has approved a special one-time bonus to more than 2,200 non-management employees in the amount of $500.00 each. This payment will
take place with the first payroll period in January 2018.
In addition, in response to this landmark act the Board of Directors has declared a special one-time cash dividend of $0.10 a share of our common
stock. The dividend will be paid on February 9, 2018 to shareholders of record on January 12, 2018.
“Congress and the President by their passage of this historic law have improved the prospects of the American worker and American company success.
We recognize this historic opportunity for our Company, our employees and our shareholders,” said Mr. Walters. – Ennis, Inc. press release
Express Employment Professionals -- $2,000 bonuses to more than 200 non-executive employees
[CEO Bob] Funk said the bonus is in part because of the company's expected savings from the tax reform legislation Congress passed last week.
"We wanted to show our appreciation for our employees for doing such a good job this year," Funk told The Oklahoman on Tuesday. "It's our privilege to
be able to give back to our employees." – excerpt from article in The Oklahoman
Fifth Third Bancorp – $1,000 bonuses for 13,500 employees; base wage will rise to $15
Newly passed tax legislation includes a reduction in corporate tax rates designed to spur economic growth. Carmichael said the tax cut allowed the
Bank the opportunity to reevaluate its compensation structure and share some of those benefits with its talented and dedicated workforce.
Carmichael said the higher wage is an important step to help support individuals, their families and the communities in which we operate. Fifth Third
has a history of investing in its 18,000 employees.
Once the legislation is signed into law, nearly 3,000 hourly employees will see their pay increase to $15 an hour. The one-time $1,000 bonus is
expected to be distributed by the end of the year, assuming the president signs the bill before Christmas. Senior managers and executive leadership
are excluded from this compensation.
“It is good for our communities, employees and Fifth Third Bank,” [President and CEO Greg] Carmichael said. – Fifth Third press release
FirstCapital Bank of Texas – details coming
First Farmers Bank & Trust – minimum bonus of $750 to each full time employee; base wage will rise by $2.50 per hour
In response to the recently passed legislation affecting corporate tax, Gene Miles, President and CEO of First Farmers Bank & Trust recently announced
a new corporate wage and community support program that commits to four points of emphasis.
1. Raise the minimum hourly starting wage by $2.50 for all new FFBT employees.
2. Provide a minimum year-end bonus of $750 annually to all full time FFBT employees.
3. Invest a minimum of $250,000 annually to community development and support of local branch markets.
4. Invest a minimum of $150,000 annually to FFBT employee development and education.
“With this special opportunity, we are pleased to further our commitment to our community and to our people. Since 1885, First Farmers has prided
itself in supporting the communities in which we serve and our employees are the primary reason for our corporate success and growth”, Gene Miles,
President and CEO, First Farmers Bank & Trust. – First Farmers Bank & Trust statement
First Financial Northwest – details coming
First Hawaiian Bank – $1,500 bonuses to 2,264 employees; base wage increase to $15
First Horizon National Corp. – $1,000 bonuses to 4,000 employees
“And as a result of this outstanding performance and because of recent tax reform efforts that we believe will benefit First Horizon, we are happy
to offer bonuses to our people who work hard every day to maintain First Horizon’s reputation as one of the best companies to work for and one of
the most trusted banks in the country.” – First Horizon National Corp. press release
Gate City Bank -- $1,000 hand-delivered bonus checks to 538 non-management personnel; $500,000 higher charitable giving; $500,000 worth of
free home appraisals.
“This new tax reduction enables us to make decisions that benefit our customers, communities and team members in a significant way which has been
our culture for decades. Gate City Bank is making a commitment to reinvest an additional $1.6 million in 2018.”
“As a thank you for our employees' hard work and dedication, we will be providing our 538 employees with $1,000 each, giving back over $625,000.
Every employee will be hand-delivered a check for a net amount of $1,000 on January 15th. Executive Leadership, Regional Leaders, Office Managers and
Department Managers are not eligible. This is above and beyond general compensation.”
Get Found First – details coming
HarborOne Bank – details coming
IAT Insurance Group -- $3,000 bonuses for 700 non-executive employees
IAT Insurance Group ownership and management announced today the company will pay a $3,000 bonus to all non-executive employees on January 15, 2018.
The additional bonus comes in response to the newly passed tax reform bill – the tax savings will be shared with approximately 700 employees. IAT
Insurance Group is a privately held company owned by the Kellogg family. – IAT Insurance Group press release
INB Bank -- $500 bonuses to 200 employees. The bonuses will exclude the Senior Management Team. The base wage will be raised to $15 per
“INB, a regional independent community bank, today announced that it plans to share a portion of its anticipated tax savings with its employees as a
result of the federal tax reform legislation signed last week.” – INB press release
InUnison Inc. – details coming
Kansas City Southern -- $1,000 bonuses. (Exact number receiving bonus unknown at this time; the company employs 6,485)
“Kansas City Southern is pleased with the passage of this legislation and optimistic about what it could mean for our customers, investors and
growth in the U.S. economy, as well as trade growth with Mexico. KCS wants to share the benefit with our employees, who work so hard to serve our
customers and increase shareholder value.” -- KCS president and chief executive officer Patrick J. Ottensmeyer
Kauai Cattle LLC – details coming
Melaleuca – all 2,000 employees will receive a $100 bonus for each year they have worked at the company
“We’re going to be able to have quite a few substantial dollars after taxes,” [CEO Frank] VanderSloot said. “I suspect we’re one of the
largest taxpayers in the state, so we’re going to have some more dollars to spread around. That money should go to the people who built the
company.” – Associated Press article
Move It Or Lose It Moving LLC – details coming
National Bank Holdings Corporation – $1,000 bonuses for employees making less than $50,000 (exact number receiving bonus unknown at this
“This move is in part a response to the recently enacted tax legislation, which is anticipated to have a positive impact
edit on 4-1-2018 by
Outlier13 because: (no reason given)